A polymer having in the molecule thereof a functional group such as hydroxy group exhibits various properties attributable thereto such as hydrophilicity and adhesion properties. Depending on its properties, it can be used for various functional packaging materials, various functional molding materials, various sheets, films and fibers, various coating agents, and constituents of various functional alloys or blends.
Various polymers are known as such a polymer. In recent years, described in International Publication No. 99/50311 (WO99/50331) and International Publication No. 00/18579 (WO00/18579) is a polymer obtained by hydrogenating, in the presence of a hydrogenation catalyst such as palladium carbon, a polymer which is available by the ring-opening metathesis polymerization of a cycloalkene having from 7 to 12 carbon atoms and a functional group such as 5-cyclooctene-1,2-diol, and is represented by the following chemical
(wherein, X and Y each represents a hydroxy group, a carboxyl group, an ester group, an amide group, a nitrile group or a carbonyl group, R represents an alkyl group having from 1 to 5 carbon atoms or the above-described X, and a and b each stands for an integer of from 0 to 6, provided that a+b falls within a range of from 2 to 7). According to it, when X and Y both represent a hydroxy group, the resulting compound is useful as a constituent of a packaging material having high oxygen barrier properties.